Cost of Living in Minneapolis

Minneapolis has an overall cost-of-living index of 104.8 (national average = 100). This is higher than the Minnesota statewide average of 93.6. Median home prices are $370,000 and average 2BR rent is $1,500/month.

Minneapolis is near the national average with an index of 104.8.

Average 2-bedroom rent in Minneapolis is $1,500/month, compared to the national average of $1,400/month and the Minnesota statewide average of $1,128/month.

Groceries in Minneapolis have an index of 102 (national average = 100). A typical monthly grocery basket costs about $418 compared to the national average of $410. A dozen eggs costs around $5.05.

Center-based infant childcare in Minneapolis averages $24,000/year ($2,000/month). This is significantly higher than the national average of $13,500/year. Data from Child Care Aware of America (2024).

Minneapolis's housing index is 108 vs the Minnesota statewide average of 80.6. Median home prices are $370,000 in Minneapolis vs $330,000 statewide, and 2BR rent averages $1,500/month vs $1,128/month statewide.

Minneapolis's transportation cost index is 100 (national average = 100). Regular gas averages $3.26/gallon. Transportation costs are near the national average.

Minneapolis's utility cost index is 95 (national average = 100). The estimated average monthly electric bill is $109, compared to the national average of $137/month and the Minnesota statewide average of $109/month. Utility rates are based on EIA 2024 residential electricity data.

A $75,000 salary at the national average cost of living is equivalent to $78,600 in Minneapolis. Your money goes about as far or further than the national average.

Based on Minneapolis's cost-of-living index of 104.8, a single adult needs approximately $52,400–$62,400/year to cover basic expenses (housing, food, transportation, healthcare). For a family of four, roughly double that. These estimates scale the national baseline by Minneapolis's local costs — actual needs vary by household size and lifestyle.

Metro-level data combines BEA Regional Price Parities (2024), C2ER COLI metro indices (2025), Zillow ZHVI/ZORI metro data (2024-2025), and state-level data from MERIC, AAA, EIA, and Child Care Aware.